Are there any constraints on the power of the federal government to create money? Not the paper and metal money that we lug around in our pockets, but the digital money, the money that exists only as ones and zeros on the electronic storage devices of computers, the money that can be created merely by typing, are there any constraints on creating that kind of money?
Elsewhere this year, there's been quite a spate of articles dealing with MMT. The reason for the attention is surely the Democrats' Big Plans for us, which will cost Big Money.
So why does the government tax, under the MMT view? Two big reasons: One, taxation gets people in the country to use the government-issued currency.
If MMTers miscalculate and create too much money and inflation rears its ugly head, then the feds can just tax back all the new money they've pumped into the private sector.
Mr. Jay continued his look at MMT on May 13 with a debate between Wray and Dean Baker.
So the Dems plan is to just create the money they need to turn America into a socialist paradise: enter MMT. For conservatives, a bigger question than whether we can find the money for all the Dems' new programs is whether they should even be considered in the first place.
On February 6, the American Institute for Economic Research ran "Why MMT Doesn't Matter" by Peter C. Earle who wrote: "Every one of the scores of known cases of hyperinflation dating back over 700 years bears witness to a reckless, breakneck campaign of money creation preceding it."
https://www.americanthinker.com/articles/2019/06/big_money_for_big_government_the_mmt_debate_continues.html
Elsewhere this year, there's been quite a spate of articles dealing with MMT. The reason for the attention is surely the Democrats' Big Plans for us, which will cost Big Money.
So why does the government tax, under the MMT view? Two big reasons: One, taxation gets people in the country to use the government-issued currency.
If MMTers miscalculate and create too much money and inflation rears its ugly head, then the feds can just tax back all the new money they've pumped into the private sector.
Mr. Jay continued his look at MMT on May 13 with a debate between Wray and Dean Baker.
So the Dems plan is to just create the money they need to turn America into a socialist paradise: enter MMT. For conservatives, a bigger question than whether we can find the money for all the Dems' new programs is whether they should even be considered in the first place.
On February 6, the American Institute for Economic Research ran "Why MMT Doesn't Matter" by Peter C. Earle who wrote: "Every one of the scores of known cases of hyperinflation dating back over 700 years bears witness to a reckless, breakneck campaign of money creation preceding it."
https://www.americanthinker.com/articles/2019/06/big_money_for_big_government_the_mmt_debate_continues.html
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